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Home My WebLink AboutORD 3881 • . , . �f � CITY OF RENTON, WASHINGTON ORDINANCE NO. 3881 AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, APPROVING AND CONFIRMING THE ASSESSMENTS AND AS5ESS- MENT ROLL OF LOCAL IMPROVEMENT DISTRICT NO. 328 � FOR THE CONSTRUCTION AND INSTALLATION OF CURBS AND �I GUTTERS, SIDEWALKS, STREET LIGHTING, UTILITY ADJUSTMENTS, STORM DRAINS AND ALL NECESSARY APPURTENANCES THERETO ON GARDEN AVENUE N. FROM N. 4TH TO N. 8TH ST. , RENTON, KING COUNTY, WASHINGTON, BY DOING ALL WORK NECESSARY IN CONNECTION THEREWITH, LEVYING AND ASSESSING THE AMOUNTS THEREFOR AGAINST THE SEVERAL LOTS, TRACTS, PARCELS OF LAND AND OTHER PROPERTY SHOWN ON SAID ASSESSMENT ROLL AS CONFIRMED BY THE CITY COUNCIL; AND PROVIDING FOR THE PAYMENT OF SUCH ASSESSMENTS INTO THE LOCAL IMPROVEMENT FUND, DISTRICT NO. 328 OF THE CITY OF RENTON, WASHINGTON AS CREATED BY ORDINANCE NO. 3744 WHEREAS the assessment roll levying the special assessment against the property located in Local Improvement District No. 328 , generally described as construction and installation of curbs and gutters, sidewalks, street lighting, utility adjustments, storm drains and all necessary appurtenances thereto on Garden Avenue N. from N. 4th to N. 8th St. , Renton, King County, Washington, created under Ordinance No. 3744 dated August 15, 1983 has been filed with the City Clerk of the City of Renton, Washington by the Director of Public Works, as provided by law; and WHEREAS due notice of the time and place of hearing thereon and making objections and protests to said roll was duly published at and for the time and in the manner provided by law, fixing the time and place of hearing thereon for January 7, 1985 at the hour of 8 : 00 P.M. in the City Council Chambers, City Hall, Renton, Washington, and due notice thereof was timely mailed by the City Clerk to each -1- property owner shown on said roll as provided by law and as further specified in RCW 35 .44 .090 and said hearing having been duly held as aforesaid; and WHEREAS at the time and place fixed and designated in said notice, said hearing on said assessment roll resulted in the following protests and/or objections, as received by the City Clerk prior to, at and during said public hearing, to-wit: NAME OF PROTESTING PARTY ADDRESS LEGAL DESCRIPTION NONE and the City Council having duly considered said assessment roll together with the written protests and objections filed in connection therewith, as aforestated, and having duly considered said protests, and the City Council sitting and acting as a Board of Equalization for the purpose of considering the roll, benefits to be received by each lot, parcel and tract of land shown upon said roll, including the increase and 'i enhancement of the fair market value of each such parcel of land by I reason of said improvement; NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DO ORDAIN AS FOLLOWS: SECTION I: That the assessments and assessment roll of Local Improvement District No. 328 which has been created and established for the purpose of paying the cost of construction and installation of curbs and gutters, sidewalks, street lighting, utility adjustments, storm drains and all necessary appurtenances thereto and all as more -2- particularly described in Ordinance No. 3744 , further reference hereby had thereto, and all in accordance with said Ordinance, be and the same is hereby in all things approved and confirmed, so that the total amount of the assessments and assessment roll of said Local Improvement District is in the sum of $318 ,828 .66 . SECTION II: That each of the lots tracts arcels of � , P land and other property shown upon said assessment roll is hereby determined and declared to be specially benefited by said improvement in at least the amount charged against the same, and the assessments appearing against the same are in proportion to the several assessments appearing upon said roll . There is hereby levied and assessed against each lot, tract or parcel of land, or other property appearing upon said roll, the amount finally charged against the same thereon. SECTION III: That the assessment roll as approved and confirmed shall be filed with the Director of Finance for collection and said Director of Finance is hereby authorized and directed to publish notice as required by law, stating that said roll is in his hands for collection and that payment of any assessment thereon or any portion of said assessment can be made at any time within thirty days from date of first publication of said notice, without penalty, interest or cost and that thereafter the sum remaining unpaid may be paid in ten equal annual installments with interest thereon fixed at an estimated rate of 10 % per annum, except that if the net effective interest rate fixed on the local improvement bonds hereafter issued for Local Improvement District No. 328 is other than 10 0, the -3- interest rate on the unpaid assessments shall be revised to a rate of 1/2 of lo in excess of the net effective interest rate on such bonds, such rate to be fixed hereafter by ordinance. The first installment of assessments on the assessment roll shall become due and payable during the thirty day period succeeding the date one year after the date of the first publication by the Director of Finance of notice that the assessment roll is in his hands for collection and annually thereafter each succeeding installment shall become due and payable in like manner. If the whole or any portion of the assessments remain unpaid after the thirty day period, interest upon the whole unpaid sum shall be charged at the rate as determined above, and each year thereafter one of the installments, together with interest due on the unpaid balance, shall be collected. Any installment not paid prior to the expiration of the thirty day period during which such installment is due and payable shall thereupon become delinquent . All delinquent installments shall be subject to a charge for interest at the rate specified above and for an additional charge of 1� o penalty levied upon both principal and interest due upon such installment or installments. The collection for such delinquent installments will be enforced in the manner provided by law. SECTION IV: All of such assessments or installments thereof ' f an thereon when collected b the and interest and penalty, i y , y Director of Finance shall be paid into Local Improvement Fund, District No. 328 of the City of Renton as created by said Ordinance No. 3744 and shall be used solely for the purpose of paying the principal and -4- interest on the warrants and bonds drawn upon or issued against said Fund, or in case no bonds have been issued, then in payment of any installment note or notes as provided for in RCW 35 .45 .150 as may be determined by the City Council of the City of Renton. SECTION V: For those persons found by the City of Renton to be economically disadvantaged property owners, or other persons who, under the terms of a recorded contract of purchase, recorded mortgage, recorded deed of trust transaction, or recorded lease are responsible under penalty of forfeiture, foreclosure or default, the assessment levied for the L. I .D. may be deferred until a time previous to the termination of the L. I .D. District under terms acceptable to the City and upon assurance of proper security for the payment of assessments . Such deferral shall not survive the termination of the ownership of interest of the economically dis- advantaged property owner or person to whom the deferral was granted and it shall likewise not survive the sale, transfer or other action which either terminates the possessory interest of such property owner or person or which turns the property into investment, rental or lease property. SECTION VI: Should any party not pay its assessments as they become due, and should it be necessary for the City of Renton to institute an action or proceeding to foreclose on the lien of these assessments, then the City shall have the right to claim its costs and a reasonable attorney' s fee for the prosecution of such i assessment lien foreclosing proceeding. Any judgment for attorney' s fees and costs shall constitute a portion of the judgment to be -5- • � • , , . � enforced by foreclosing of the lien and such attorney' s fees and costs shall be paid before the assessments shall be considered paid current. SECTION VII: ACCELERATION ON DEFAULT. Should any property assessed under this roll fail to pay yearly assessments as they become � due for two or more successive years, then the City of Renton, may at its discretion, accelerate the full amount of the remaining LID assessments and demand payment of that full amount. Should the City initiate litigation to foreclose on the lien of the LID assessments, then the City shall have the option to claim in that litigation the full amount of the unpaid LID assessments thus accelerated. SECTION VIII: This Ordinance shall be effective upon its passage, approval and five days after publication. PA5SED BY THE CITY COUNCIL this ��day Of �aniiarv r 1985 . r � Maxine E. Motor, City Clerk APPROVED BY THE MAYOR this 2lstday of January , 1985 . �' 4�nw�h•5 6�.c.nap c'�• Barbara Y. Shinpoch, Mayor Approved as to form: CJ �`�.r,�.�.�,� � !/('��.,,� �� Lawrence J. ��n�'arren, Cit� Attorney Date of Publication: January 25 , 1985 J